Qualified Remodeler Magazine

MAY 2018

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

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Page 11 of 67

NARI 2018 National CotY winners announced The National Association of the Remodeling Industry (NARI) named 40 National CotY winners and 20 National Team Member winners at its annual spring business meeting. Contractors from seven regions nation- wide vie for the industry award recogni- tion on an annual basis. An impartial panel of judges, who are experts within the industry and associated fields, select- ed winners based on problem solving, functionality, aesthetics, craftsmanship, innovation, degree of difficulty and entry presentation. CotY Awards have 45 separate catego- ries, and this year's competition equates to more than $123 million worth of remod- eling projects. Excellence and profes- sionalism are exemplified from concept to completion. CotY award-winning com- panies enjoy recognition from industry leaders and peers. NARI presents CotY awards annually to members who have demonstrated exceptional work throughout their re- modeling projects. NARI is a professional association whose members voluntarily subscribe to a strict code of ethics. To be considered for a CotY Award, a company must be a NARI member in good stand- ing. Learn more at nari.org/industry/ recognition/coty. Technology requests for the outdoors The Houzz 2018 Landscaping Survey reports a leading reason homeowners undertake a landscaping project is to im- prove elements of an outdoor space that have deteriorated or broken down (29 percent). Homeowners are willing to in- vest in elements that make their outdoor spaces more "livable" as well as entertain year-round. Part of that includes technol- ogy, as nearly 1 in 5 homeowners added or upgraded their entertainment systems during their landscaping projects (18 percent); 3 in 5 opted for a new television (59 percent); wired and solar speakers came in at 48 and 42 percent, respective- ly; and 1 in 10 homeowners added wired and solar charging stations (14 and 11 percent). | study offers a correlation between these elements and design, as well as the need for professionals in the process, plus how and where consumers shop for and buy kitchen products. Remodeling confidence remains in strong territory The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) posted a reading of 57 in the first quarter of 2018, down three points from the previous quarter and back to the same level as the third quarter of 2017. The RMI has been above 50—indicating more remodelers report market activity is higher compared to the prior quarter than report it is lower—since the second quarter of 2013. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. "An RMI reading over 50 shows that con- sumers still remain engaged in home im- provement," says NAHB Remodelers Chair Joanne Theunissen, CGP, CGR, a remodeler from Mount Pleasant, Michigan. "However, higher prices for labor and materials like lumber continue to cause delays in project starts and higher overall project costs." Current market conditions decreased two points from the fourth quarter of 2017 to 58. Among its three major components, major additions and alterations waned four points to 56, minor additions and alterations increased one point to 60, and the home maintenance and repair com- ponent fell four points to 57. The future market indicators index dipped four points from the previous quarter to 55. Calls for bids increased one point to 57, amount of work commit- ted for the next three months decreased four points to 54, the backlog of remod- eling jobs dropped nine points to 57, and appointments for proposals fell three points to 54. "Strong price appreciation, inventory shortages of homes for sale, and home- owners' desire for updated amenities maintain the remodeling industry on solid footing," says NAHB Chief Economist Robert Dietz. "This quarter's dip may be related to unusually cold weather in many parts of the country, but the fore- cast is for the remodeling market to grow in 2018," he adds. National Home Remodeling Month is sponsored by Amerifirst, BuildDirect and Paslode. For more information about re- modeling, visit nahb.org/remodel. NKBA behavior study details kitchen habits, design impact How do people really use their kitch- ens? This is what the National Kitchen & Bath Association (NKBA) endeavored to learn in its latest market research, which offers a detailed analysis into the evolving way homeowners live in their kitchens and how this drives remod- eling preferences in the $74 billion kitchen market. The Lifestyle Segmentation Report identifies homeowner attitudes and be- haviors regarding cooking, meal prepa- ration, entertaining and kitchen design, and the influence of lifestyles on the kitchen remodeling process. The national online survey reached nearly 800 adults with household income of $40,000 or higher who had remodeled their kitchen or planned to remodel be- tween November 2016 and August 2018. The survey segmented respondents by their confidence levels regarding cooking abilities, confidence in kitchen design abilities, and comfort level with using technology in the kitchen. "This exclusive research is somewhat of a departure from our traditional studies, which typically analyze product cate- gories, design trends, size of the market and business projections," says Bill Darcy, NKBA CEO. "It's the first time we are look- ing at how changes in consumer lifestyle impact the actual use of our industry's product and services. The data provides valuable insight for designers, remodel- ers, dealers, showroom associates and other professionals in how they serve their clients. This commitment to research and analysis reinforces NKBA's thought leadership in the marketplace and offers strategic information for the benefit of our membership." The report provides data on family dining, meal preparation, entertaining and other activities occuring in the kitchen. Also reported is how homeowners use technology in the space and what storage needs they require. Furthermore, the 12 May 2018 QR QualifiedRemodeler.com IN BRIEF

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